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a battle of the u.s. budget plans. senate democrats are set to unveil the answer to republican paul ryan's deficit cutting proposal today. >> announcer: you're watching "worldwide exchange" bringing you business news from around the globe. >>> it looks like a touch weaker for u.s. futures. look at the action. the dow did manage just at the end of the day to eke out small gains yesterday and that means it's been eight straight days of gains for this index. can it be nine? unusual. that would be the first time in 16 years in fact. meanwhile, perhaps some cautionary signs in the nasdaq which has had a weak couple of days stretch over here. s&p 500 also ended lower and looks to give up a point or two this morning as well. 1,545 is the level there. we're down 0.2 in the ftse global 300. a lot of action in the last half hour. we're seeing the euro weakening and general sense of risk coming off the table as we head closer to the weekend. key bond auctions today as well. italy going to market and we see italian stocks giving up .75 of 1%. spain down by two-thirds of 1%. ftse 100 message is consi
details on paul ry ryan's budget plan and how it could affect retiree's taxes, and all of that is ahead on "power lunch." fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from ch >>> all right. a story that wealthy retirees need to pay attention to. new details the on paul ryan's budget plan and how it could affect taxes. wealth editor robert frank joining us and he lz been dig into this, robert. >> yes, i have. and paul ryan would tax about everybody, including high earner s and retirees and according to the nonpartisan tax center, it would give the average american tax cut of $3,300 which is a 5% increase in after-tax income, and those making between $40,000 and $50,000 would get a tax cut of $670, and about 1.6% tax increase after tax income, and the big winners are the big earners of those making $1 million and more would see a tax cut of $408,000 which is a 19% more in
does matter. but economic growth matters too. now, i had paul ryan on the program last night with his budget. he wants corporate tax reform as a pro growth measure. today at the business roundtable with the ceos, i ran a panel. you know what they were talking about? corporate tax reform as the single best pro growth measure. are we going get that out. house? can you all put some pressure on the president who sometimes says he's in favor of corporate tax reform? that would grow the economy and help solve the debt problem. >> larry, he actually said that when he came to meet with the house republicans today because dave camp raised this issue. mr. president there are some areas where we have common ground can we move forward on that. he mentioned the corporate tax rate to which the president said i agree the corporate tax rate is too high, we should lower it, make it flatter, fairer, that's something we can agree on and he said we have about a nine month window here, envelope he thought in order to make something like that happen. dave said let's do it now. the president said we can't d
at 1:30 eastern time. house budget committee chairman paul ryan outlined had his party's plans on "the kudlow report" last night. >> hopefully we get a down payment on the problem. we balance the budget and pay off the debt in our budget. what we hope and what we think the republican majority is good for, if anything, is to get a down payment on the problem. balancing the budget is not an end of itself. it's an means to the end. we want to revival upper mobility and growth in this economy. >> senate democrats are going to release their own spending plan after calling the republican proposal unacceptable. it will call for about $1 trillion in new revenues by closing tax loopholes and about 1 trillion in spending cuts at the same time but no structural changes to medicare and the question is will that get -- do either of these plans get anybody anywhere or is everyone talking to themselves? >> they're talking to themselves. we discussed it yesterday. in the last negotiations you still have the fact there are republicans who think that the republicans gave too much and then there are demo
and have a competitive system in health insurance. >> talked to paul ryan about this, okay, earlier this week. you know guys like ryan they are holding the line. i want to go back to this point. i think the republicans did the right thing in holding down spending on the sequester. the stock market had a big pop over that. i really liked that. second point, business is getting better. not washington. business is the reason why stocks are getting better. but here's the thing, go back to your obama care. >> don't worry, washington will stop that. >> i don't think so. see, i think the republicans are back now in their mold where they are most effective of stopping the bad stuff and then trying to push a little bit the better stuff. in other words, i asked ryan, right, the guy has lunch with obama. first time in four years plus. ryan, can you make a deal with this guy? can there be a grand design? should you try for a deal? ryan says yeah, i'm cautiously optimistic. he's coming to the table. i heard the same thing from senator johnson. guys are telling me that obama has got a completely
know that. this week we saw both paul ryan and the senate democrats introduce their budgets, both likely dead on arrival. but at the same time the president met with house republicans. i want to get your take on what john boehner said after that meeting. listen to this. >> i thought we had a very frank and candid exchange of ideas. frankly i think it was productive. we know, however, there are some very real differences between our two parties, like issues jobs, balancing the budget, and what will we do to get our economy moving again. >> randy, do you think there's any common ground here? will we ever seen a compromise between the two sides. >> whenever i hear the phrase frank and candid, i know we completely disagreed but at least we had a discussion. i think that's positive. i think it's very positive both sides have put down markers for what they think is important. i agree with you that both of those are going to be dead on arrival but that doesn't mean that's not going to lead to now some sort of discussions, negotiations. before it was just very, very vague. one side likes
, meeting with the president on the budget issues, as they try to hammer something out, the day after paul ryan came out with his budget blueprint. so we may hear from him as well, in addition finding out who the new pope is. >> let's go back to our market discussion. larry, you heard what ed just said. it sounds like you disagree with that. you think there's some value in this market. >> absolutely. i love the way larry put it. the passover rally. but one of the things that larry said is spot-on. in terms of technical evaluation, we're probably getting up against a resistance level, where we might not see us break through that, so we could start to see the market come back down a little bit in the short run. but you said, not a lot of value. baa that is exactly the point. there is a lot of value in this market. i actually think stocks are very inexpensive relative to expected earnings. when you look at stock prices, you look at it from a fundamental evaluation or a technical evaluation. fundamentally, stocks are cheap interest rates are low, and there's no reason for this market to pull b
as part of a deficit deal. the senate budget committee began debating its counterproposal to paul ryan's budget. the sausage making process continues in the u.s. and in europe where the european parliament, get this, has stripped down a budget deal reached by eu leaders last month that called for significant changes. mvps did not change the 960 billion euro spending limit, but pressed for the distribution of funds and a mid year review. the european parliament chair called the move an important step for democracy. >> the parliaments want to be taken as a serious partner. we are prepared to negotiate. this is an offer to the council to compromise and improve the framework. >> now, this comes as european union heads of state are kicking off another two-day summit in brussels today. leaders reportedly making plans to loosen the rules which will allow the companies more time to balance their budgets. julia chatterly is live in brussels. julia, germany made a point ahead of this meeting to say even if there's discussion to give people more time, it needs less time to meet its own target. >>
we got the house republican budget from paul ryan, which balanced the budget over ten years, with all spending cuts. today we got the senate democrat's budget from patty murray, chairman of the budget committee. hers doesn't balance the budget, but reduces the deficit over a ten-year period, using both tax increases and spending cuts. and she said it's up to the american people to pick an approach. >> they will let us know whether they want us to go back down the path of the trickle down policies that decimated the middle class and threw our economy into a tailspin, or if they would prefer the approach we've seen has worked before. tackle our deficit responsibly, reinvest in our middle class, build a strong foundation for growth, and restore the promise. >> but, of course, appealing to public opinion is part of the outside game, and that's only one aspect of this fight. there's also the inside game, because president obama went up to the hill today to continue his outreach to members of congress. he spoke to the house republican caucus. afterwards, speaker john boehner did announce a
the paul ryan thing with the big asterisk and say -- >> what do you think? >> that's exactly the way you have to approach this. we do need -- first off, this issue is about 5, 10, 15 years from now, stablelizing the debt at less than 15% gdp and the essence getting entitlements under control in the out years. as part of that, you have to have tax reform and significant tax reform. and actually, simpson/bowles, a commission i served on, laid out a way to do it, got the tax rates down on the personal side to 9, 15 and 23% and the corporate to 26%. and you need to bring the corporate rate down to 24, 25, 26% and need to go to a territorial system. but you can't do that independent of the individual system, because if you have a huge gap between the top individual rate, say today it's at 42.5%, and if you took the corporate 25%, everybody started -- >> because then you have small business. small business got screwed at the expense of big businesses in the last tax bill. so you're right. so i -- look, i say, you're going to have big problems if you try to have a big personal and corporate tog
. >> coming up, paul ryan's plan for budget trickery. according to steny hoyer it is. and checking the futures right now, green arrows across the board. squawk is coming back right after this. >>> >>> next, if you've never heard of minecraft, don't worry, your kids have. we'll talk to the ceo behind the viral computer game. his company famously rejected a partnership offer from shawn parker. revolutionizing an industry can be a tough act to follow, but at xerox we've embraced a new role. working behind the scenes to provide companies with services... like helping hr departments manage benefits and pensions for over 11 million employees. reducing document costs by up to 30%... and processing $421 billion dollars in accounts payables each year. helping thousands of companies simplify how work gets done. how's that for an encore? with xerox, you're ready for real business. only hertz gives you a carfirmation. hey, this is challenger. i'll be waiting for you in stall 5. it confirms your reservation and the location your car is in, the moment you land. it's just another way you'll be traveling at t
was the key factoring for the cell phone wars last year. >>> mitt romney and paul ryan will be appearing at the conservative political action conference in maryland this afternoon. andrew, i'll send it back over to you. >>> equities continue to march upward as some investors worry if we're headed into a period of irrational exeberance. good morning, alan. >> good morning. how are you, andrew? >> great to see you. the question of the morning, do you want to break out the phrase again? irrational exuberance. >> i don't think it's quite appropriate in this environment. in fact, the basic way of looking at this degree of exuberance is equity premium. a measure of whether the stocks are overvalued or undervalued. and right now, by historical calculation, we are significantly undervalue. the reason why the stock market has not been significantly higher is there are other factors compressing it lower. irration >> is this a fed-fueled rally. >> i think you can fully explain the rally in terms basically of the removal of what is called tail risk. that is what has been sitting out there virtually
the bathroom is legendary. the man can go on and on and on especially for a man of his age. >> paul ryan -- >> just noted it. that's all. >> there he is. >> he didn't think it was funny. i did actually mention that to him. >> there are 100 of them and we hold them with respect and the banking industry itself some did not -- they did a disservice because they didn't recognize that the guy is a senator and senators should be treated with a little more reverence. >> j.p. morgan down 2.8% and conditional approval for the stress test and that's something else to keep in mind today. let's check in with beob pis an owe what's moving. >> we have excellent movement, almost 100 million shares have changed hands and that's practically a full day's volume for the new york stock exchange. we'll get volume and we'll see what, if any, volatility we'll create here. have you noticed here financials? j.p. morgan is down. we've got a number of them that were sitting right near new highs, bank of america, wells fargo, regents and i'll tell you what was interesting about the bank capital return plans and som
Search Results 0 to 12 of about 13

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